HighPoint Advisor Group LLC Invests $512,000 in Reinsurance Group of America, Incorporated (NYSE:RGA)

HighPoint Advisor Group LLC bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,605 shares of the insurance provider’s stock, valued at approximately $512,000.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Reinsurance Group of America by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock valued at $1,541,121,000 after buying an additional 51,733 shares in the last quarter. WCM Investment Management LLC boosted its stake in Reinsurance Group of America by 1.4% during the fourth quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock worth $526,911,000 after buying an additional 33,082 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Reinsurance Group of America by 389.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock worth $239,911,000 after purchasing an additional 893,537 shares during the period. Geode Capital Management LLC grew its stake in shares of Reinsurance Group of America by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock valued at $241,849,000 after buying an additional 18,162 shares during the last quarter. Finally, Norges Bank bought a new position in Reinsurance Group of America in the 4th quarter valued at $174,082,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $199.89 on Thursday. The firm has a market cap of $13.20 billion, a P/E ratio of 18.61 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $203.41 and its 200 day moving average price is $213.23. Reinsurance Group of America, Incorporated has a 52-week low of $178.84 and a 52-week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. On average, equities research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is 33.15%.

Wall Street Analyst Weigh In

RGA has been the topic of several research analyst reports. Barclays dropped their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Piper Sandler reduced their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Morgan Stanley decreased their price target on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. UBS Group reiterated a “neutral” rating and set a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday. Finally, JPMorgan Chase & Co. upgraded Reinsurance Group of America from a “neutral” rating to an “overweight” rating and upped their target price for the company from $232.00 to $237.00 in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.38.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.